Michael Kane Discusses His Joint Venture Experience

Michael Kane Boral

June 18, 2021

Michael Kane Discusses His Joint Venture Experience

Michael Kane Boral is a retired and incredibly successful executive who has nearly 50 years of experience. His success was fueled by an innate understanding of various marketplaces and an ability to use the tools presented to him to thrive. For example, he used joint ventures throughout his career to flourish and strongly suggests that struggling businesses tap into this model to succeed even more.

How Michael Kane Boral Used Joint Ventures in His Career

Before Michael Kane Boral discusses his joint venture experiences, he wants to touch briefly on the definition of this term for any readers who may not understand it. In essence, a joint venture is a one-time interaction between two or more businesses that focuses on a single goal. It is not the same as a merger or acquisition because they maintain their independence and do not join.

Instead, these businesses will work together for one goal, such as building a specific skyscraper, creating a new product, or any other type of process in their field. This situation is often advantageous because it allows both businesses to thrive and succeed but lets them stay independent of each other. And it doesn’t require a lot of money or legal difficulties that may be challenging to handle.

Instead, Michael Kane Boral and his team used joint ventures to expand throughout various continents worldwide. For example, he combined forces with various North American businesses to expand his building materials empire, focusing on combining the skills of manufacturers, material providers, and many other experts to create a strong and coherent strategy perfect for business success.

Just as importantly, he was able to use these temporary connections to expand to other areas of the world, including challenging markets like Australia and Asia. These markets are often so difficult to break into because they are so loyal to local companies. However, pairing with these companies when crafting new businesses or expansions to current markets helped make this process much smoother.

Pursuing a joint venture is a challenge, Michael Kane Boral says, but it is something that most business owners should be able to handle. The first step is to identify a market where your company could expand and then reach out to businesses in that area. Talk to them about how you can work together, see if your cultures mesh, and then create a joint venture plan for a specific goal.

Make sure that you connect with these businesses and create a strong partnership while you work together. Respect their goals and their capabilities and use your company’s to thrive. Just as importantly, you can take the time to create new connections within these firms and transform your business by going back to them, if necessary, to push your business to a higher level of business success together.